Fed Governor Quarles eyes a bit more dovish policy path

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(Reuters) - Federal Reserve Governor Randal Quarles said on Thursday he expects less aggressive interest rate rises than most of his fellow Fed policymakers, and also predicts higher longer-term growth for the U.S. economy.

“My preferred path for policy is for a more gradual” tightening than most others on the policy-making Federal Open Market Committee due to an expected boost in productivity from investment in technologies, said the Fed’s vice chair of supervision, who rarely comments on monetary policy.